katy black
Short-Term Rentals and Lodging News in Lake Tahoe
Katy Black | March 27, 2023
By Katy Black Lake Tahoe’s economy is anchored by the tourism industry, which experienced significant growth post-COVID given its proximity to major cities such as Sacramento, San Francisco, and Reno, as well as the array of outdoor activities. The Lake Tahoe Basin is home to a growing population of year-round residents, and the popularity of second homes and investment properties in the area has resulted in soaring home prices and an affordable housing crisis. To preserve the area's natural beauty, local governments and the Tahoe Regional Planning Agency have implemented strict development and short-term rental restrictions. Despite t...
2023 Hotel Performance Outlook for Denver
Katy Black | March 22, 2023
By Katy Black With occupancy nearing the 70% mark and ADR levels approximately 4% above 2019 levels, the Denver lodging market achieved a RevPAR level in 2022 that was approximately $5 below 2019 levels. In line with the top 25 major metropolitan areas in the U.S., ADR has led the way in the recovery, with occupancy remaining below prior peaks. Compared to the overall statistics for the top 25 major metropolitan areas, Denver has recovered more from an occupancy perspective but less from an ADR perspective. For the major markets, ADR is up $15 from 2019, on average, while Denver’s ADR only increased $5. As a result of slower ADR growt...
A Review of Equity Yields and Discount Rates in a Post-COVID Environment
Katy Black | October 13, 2022
By Katy Black Equity yields and discount rates remain at or below pre-COVID levels; however, rising debt costs will result in changing investor return expectations. HVS continually tracks the discount rates and equity yields for the assets on which we consult. In the case of hotels that were sold near the date of our valuation, we were able to derive the equity yield rate and unlevered discount rate by inserting the ten-year projection, total investment (purchase price and estimated capital expenditure and/or PIP), and debt assumptions into a valuation model and solving for the equity yield. Equity yield is the rate of return that an...
HVS Market Pulse – Salt Lake City, Utah
Katy Black | September 15, 2021
By Katy Black, Ryan Mark Before the Pandemic Occupancy within the Downtown submarket remained stable, consistently registering near the 70% mark, for the five years prior to the pandemic. Average daily rate (ADR) growth during that period was also consistent at a compound annual growth rate (CAGR) of 3.0%. These metrics illustrate the strength and stability of the local market, even in 2018 when the city lost its largest convention, Outdoor Retailer, as it moved to Denver, Colorado. The number of events held at the Salt Palace Convention Center rebounded in 2019. Convention attendance surpassed one million delegates in the two ye...
HVS Market Pulse: Wyoming & Montana
Katy Black | December 17, 2020
By Katy Black, Lauren Reynolds Travel certainly looked different in the United States for 2020. The limitation of international travel, the postponement of events and festivals, remote working, virtual learning, and the closure or strict capacity limitations at several attractions have steered travelers to seek the great outdoors, particularly in more remote locations. Thus, the scene in the late summer and early fall was far from desolate in the three major national parks in Wyoming and Montana; in fact, Yellowstone, Glacier, and Grand Teton National Parks experienced an increasing number of visitors through the end of the summer, wit...
Equity Yield Rates on the Decline
Katy Black | November 21, 2019
By Katy Black and Rodney Clough HVS continually tracks the rates of return on the assets on which we consult. In our most recent review, we found that equity yield rates, on average, have shown a continued trend of decline in the full-service and luxury hotels sector, as well as the lower-tier limited-service sector, with the select-service and upscale limited-service sector showing stability. Equity yield rates were notably lower for full-service and luxury hotels, averaging 16.4% for the year-to-date 2019 period, which is 140 basis points (bps) below the 17.8% most recent peak level recorded in 2017. This decrease was driven largely b...
HVS Market Pulse: Colorado Springs, Colorado
Katy Black | October 24, 2019
By Katy Black There are 15 full-service hotels in Colorado Springs representing nearly 3,900 of the 10,550 total hotel rooms in this market. Interestingly, there are three full-service hotels that are branded under the Wyndham Hotels & Resorts parent company. The Mining Exchange Hotel opened in 2012 as a Wyndham Grand, The Antlers Hotel affiliated with Wyndham in 2016 after de-flagging from a Hilton, and the Cheyenne Mountain Resort joined Wyndham under the Dolce Hotels & Resorts affiliation in September 2017. Combined, these three hotels have over 700 rooms, which is only about 70 rooms shy of The Broadmoor. Hyatt, Hilton, Marriot...
HVS Market Pulse: Gaylord Rockies – Impact on Denver Lodging Submarkets
Ryan mark | March 1, 2019
By Ryan Mark, Katy Black March 1, 2019 -- With the recent opening of the massive Gaylord Rockies, many are wondering what the ultimate impact of the 1,501-room resort will have on the Denver, Front Range, and greater Colorado lodging market. We believe the impact will be largely positive. Competition for the 200- to 800-room block group, which previously and primarily only looked to The Broadmoor (Colorado Springs) or Downtown Denver to book, now have an alternative, which should intensify price competition in the near term. Despite this pricing dynamic, Colorado is a hugely popular destination for groups, and the opening of a new, upsc...
1
Technology
2
Appointments/People on the Move
3
Operations
4
Industry Happenings
5
All Things Independent
Today's News
How Travelers Find Destinations for Their Trips
6 Marketing Tactics To Boost Revenue at Your Hotel Restaurant
RevPAR Growth Slowed Globally, Ireland Occupancy Breaks 90%, and China Recovery Softens
U.S. Hotel Performance Increased for Week Ending 23 September
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.